The US and the European Union could set a date for forming a trans-Atlantic trading zone at a summit in April, the Financial Times reports citing diplomats.

The article said Boyden Gray, US ambassador to the EU, thinks it likely that goals for harmonizing rules and regulations between the world’s biggest economies would be outlined at the April summit.

“The political commitment is there from the president and members of his cabinet,” the article quotes Gray as saying.

The article goes on to say that US Senator Bob Bennett will Thursday meet with European Commission president Jose Manuel Barroso to present a timetable to conclude talks for the deal by 2015. (Dow Jones)